BTCSOL.P trade ideas
Solana (SOLBTC) Consolidation Pattern, Tough SpotI need your help. This is an interesting chart... What do we have here?
Good evening my friend, how are you doing?
Thank you for coming back, thank you for taking the time to read.
I am looking at this chart and there are so many factors to consider. The signals are mixed.
Four consecutive weeks red. SOLBTC.
Do we take this as a negative or positive?
Not once since March 2023 we have more than four weeks closing red. This can mean that this pair is soon to turn green.
Once in 2023 and then again in 2022 in the bear market. These are the only instances in which SOLBTC closed more than four weeks read. In all of 2024, the maximum is four weeks.
The action is happening right above EMA55. We have a super long-term consolidation pattern. The entire market is advancing. It would be safe to assume that this pair will also advance, but the signals are mixed.
It looks like mid 2021. Back then, the consolidation pattern was small in duration, this time, it is long; alternation.
I made up my mind. I think it is going to go bullish even if it take a few weeks or days. There is room for some swings but this wouldn't change the long-term. Long-term it is going up. We can consider a new bullish impulse, 1-2-3-4-5 or the extension of a previous one.
The bullish action ended in December 2023 which is almost a year ago, so far we have seen consolidation only, sideways, the longer the consolidation phase the stronger the move that follows.
The initial move is a bullish wave coming out of the 2022 bear-market bottom and 2023 higher lows. The consolidation is for this move. A bullish move has been consolidated long-term before additional growth.
Bottom line is I am going bullish on this pair so I am making all these things up. Hopefully, my thinking is supported by the chart.
I am writing for your entertainment.
It is my pleasure to write for you today.
Namaste.
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Analysis of the Sol coin against BitcoinThe Sol coin is in a clear uptrend. At the moment it seems to be creating a bullish continuation pattern in the form of a triangle whose projection points straight to the historical high. I suggest opening a position if the coin manages to leave the accumulation zone and there is a good risk-return ratio with a target at the historical high.
For more analyses like these, follow me on Tradinview.
SOL/BTC is still bullishAfter a bullish wave, Solana has entered a range.
In this range, it has continuously created higher Ls and formed a bullish iCH.
This currency pair is ready to move towards the two specified targets.
Closing a daily candle below the invalidation level will violate this analysis.
Do not enter the position without capital management and stop setting
Comment if you have any questions
thank you
SOLBTC is unignorableMost things are going down on BTC pairs except my proud dog coins. This mf is holding well as well. I'm starting to like SOL because of two reasons. One is this chart. Two is that I believe in hypergamblification. And SOL is an on-chain gambling center. Once this triangle breaks up, I believe SOL will be a decent buy.
SOL/BTC Pair Analysis: Bullish Flag Formation on the Verge of ATI'm currently analyzing the SOL/BTC pair, and from what I’m seeing, we might be looking at a potential bullish flag pattern, which could indicate a strong push towards a new all-time high (ATH). Below is the chart highlighting the structure I believe could be leading us to that breakout.
I'd love to hear your thoughts on this analysis! Do you see similar signals, or are there other technical indicators and trends that suggest a different scenario? Any insights or additional perspectives would be greatly appreciated.
Let’s discuss! NFA (Not Financial Advice) – jump in and share your views!
SOLBTC Trading Signal: Buy OpportunityDirection: Buy
Enter Price: 0.0022856
Take Profit: 0.0023142
Stop Loss: 0.002254
We are issuing a BUY signal for the SOLBTC trading pair, applying the EASY Quantum Ai strategy to identify an optimal entry. This recommendation is supported by several key factors:
- Technical Analysis: Our analysis indicates a bullish trend. The price chart formations suggest a potential upside movement as SOLBTC has bounced off significant support levels, showing strong momentum.
- Volume and Momentum: The trading volume has shown an upward trend, which often precedes price increases. The momentum indicators are also favorable, supporting a buy prediction.
- Sentiment Analysis: Market sentiment is leaning positive due to recent developments and news in the blockchain space involving SOL, which could increase investor interest and drive prices upward.
Please, proceed with the recommended Enter Price , aiming for the Take Profit level while maintaining caution with the set Stop Loss . Monitor the market closely as conditions can change rapidly.
SOL / BTC Forming a Bowl and Smooth Accumulations !
Solana's performance against Bitcoin has been quite healthy over the past few years.
Before the FTX collapse, the price consolidated for months in a completely horizontal range.
The FTX crash caused the price to form the bottom of the bowl structure and the price accumulated in the bottom of the bowl for months.
After months of accumulation, the price broke above two consecutive downward accumulation areas, settling just above the first accumulation area.
The fact that the current accumulation zone just above first accumulation zone has acted as support for the past 7 months indicates a very healthy trajectory.
Moreover, this 7-month horizontal process seems to have started turning upwards in September, touching the bowl structure.
If this structure continues to function healthily, it means that the direction will continue upwards in the near term, reaching as far as the end of the bowl.
SOL - comparing BTC and USD pairsTwo things I like to do for alts:
1. Draw fixed range volume profiles on high timeframe ranges
If SOL should lose the current range, looking at previous range VAL/VAH/POC for targets can work better than looking at actual sweep levels, since you're looking at where most volume has been traded which means looking at where most people entered, exited, ...
2. Look at BTC pair as well for confluence
seeing targets on both sides on the BTC pair and USD pair that seem similar, helps with building ideas for both sides. If I would only upside targets on the BTC pair, with downside all cleaned up, then I'd be more interested in looking for upside on the USD pair as well.
SOLBTC forecastHere is my SOLBTC analysis. I think in the initial BTC run we will have SOLBTC pull back to my buy zone of below 0.0020. Anywhere below there is a great opportunity to accumulate. I think what starts with the BTC momentum will turn into a SOL dominance iin the second leg of the bull market where I expect SOL to be the ETH of this cycle with a parabolic upside not only against USDT but against the BTC. This is not a financial advice. Please DYOR.
SOLBTC Cup and HandleCould be the start of a massive repricing for SOL. With SOL TX and DEX volume surpassing ETH L1 & L2s combined, I think CRYPTOCAP:SOL is poised to eat a lot of ETH's would-be market share, if the TXs weren't $100 a swap. Consumers are here, now, and ETH UX isn't where it needs to be to capitalize.
I hold both, but more bullish on CRYPTOCAP:SOL as a go-fwd smart contract platform in the near term.
